Term
| Topic #1: What Industry is Walmart Inc. in? |
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Definition
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Term
| Topic #1: What is Walmart's primary business focus? |
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Definition
| The company describes themselves as an omni-channel retailer. Instead of selling goods solely on in-store interactions or online purchases, they fully integrated retail channels that allow customers to order online and pick it up and return purchases in-store. |
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Term
| Topic #1: Who are Walmart's primary competitors? |
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Definition
| Costco Wholesale Corporation (Costco),Target Corp., Dollar General Corporation |
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Term
| Topic #2: What are Walmart's community initiatives? |
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Definition
Serving communities/Fostering Community Engagement - Improving access to affordable, quality products, dedicating funds for internal career growth, gaining employee commitment (gives incentive and drive to perform better), investing in local suppliers; Spark Good Platform, Walmart Center for Racial Equity
Supports safe and healthier products - Expanding access to healthier foods, The Global Food Safety Program, Risk-Based Product Safety Program, Sustainable Chemistry
Disaster Preparedness and Response Relief - Contributes funds to disaster recovery and preparedness around the world, Assessments of safety concerns of transportation routes to and from store/facilities, Pre-shipping supplies of water and other essentials
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Term
| Topic #3: What is Walmart's Organizational Structure and what is the evidence? |
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Definition
It has a Mechanistic Structure.
Evidence: Walmart has a standardized optimal process for tasks in which associates are expected to follow. It is also a highly structured governance system. There is also a strong hierarchy with governance compliance and other standardized operations. |
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Term
| Topic #3 Definition: Mechanistic Organization |
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Definition
Has a rigid structure and clear hierarchy.
Characteristics: Centralized Authority (decision making is concentrated at the top levels of management), Formalization (strict rules, procedures, regulations), Specialization (employees have specific tasks), Stable Environment (tasks and technologies don't change frequently |
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Term
| Topic #4: What are two specific skills that contribute to the success of Walmart? |
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Definition
Walmart seeks for individuals who have...
1. The ability to respect the individual: strengthens workplace relationships, embraces differences in people, cultures, and ideas to foster growth for associates
2. The ability to serve our customers: seeks to "Help people save money and live better" which aims to magnify their "Everyday Low Prices" initiative
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Term
| Topic #5: How does Walmart's products contribute to customer satisfaction? |
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Definition
Variety of goods leads to increase the customer's match of best fit leading to higher satisfaction
"Everyday Low Prices", customers can afford more, raising living standards
Omni-Channel retail -Allows for diversity in purchase location
Product Quality and Consistency - Products last longer, consumers get more value and satisfaction, know what to expect, reduces risk and uncertainty
Innovation - Improves product |
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Term
| Topic #6: What are Walmart's sustainability initiatives? |
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Definition
Governance - Oversight is provided by the Nominating and Governance Committee at the board level, Compensation and Management Development Committee links sustainability performance by rewarding executives through meetings
Leadership - They have roles responsible for setting, monitoring, and reporting on environmental, social, and governance objectives
Reporting Mechanisms - Shareholders are regularly informed on sustainability initiatives and progress |
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